Emirates NBD

◆ The Fed's Powell era ends with split decision ◆ Bank capital to lead Gulf bond revival ◆ SSAs, corporates and FIG face busy May

Observers wanted 30% of allocations to go overseas, but ENBD fell a little short

Tight price and strong book reported as market awaits geographic breakdown

Premium to dollars was in the high single digits, said a lead

Attractive pricing versus dollars luring GCC borrowers back to the single currency

More digital bonds are expected from the region this year

Goldman Sachs joins Western Europe's top three bookrunners

◆ Strong market for subordinated bank debt in euros and dollars ◆ Investors buy ‘undersupplied’ UniCredit AT1 at multi-year low yield in the asset class ◆ Barclays, SMFG and ENBD target dollar AT1 buyers

Expectations of Fed rate cuts have turbocharged issuance from the region

Dubai bank 'impresses with ESG narrative', but opinion divided on instrument's effect to pricing